ASTANA, Kazakhstan, December 26. KazMunayGas
and CNOOC are expanding their cooperation in geological
exploration, discussing key aspects of bilateral collaboration,
including the joint implementation of the “Zhylyoi” project,
Trend reports.
A meeting took place between Chairman of the Board of
KazMunayGas (KMG), Askhat Hasenov, and Chairman of the Board of
Directors of China National Offshore Oil Corporation International
Limited (CNOOC), Wang Dongjing.
During the negotiations, the stakeholders engaged in a
comprehensive dialogue regarding the collaborative execution of the
“Zhylyoi” initiative.
According to KMG’s preliminary estimate, the geological resource
potential of the subsoil area may exceed 185 million tons of
oil.
Additionally, the parties discussed new opportunities for
cooperation in other geological exploration projects, as well as
strengthening engineering collaboration with CNOOC’s subsidiary
service company (COSL China Oilfield Services) in the field of
exploration, oil, and gas production.
As a result of the meeting, the parties confirmed their
readiness to further strengthen cooperation and expressed
confidence in the successful implementation of joint projects aimed
at developing the oil and gas industry and strengthening the
strategic partnership between Kazakhstan and China.
To note, in October 2024, KMG and CNOOC signed an agreement
outlining the main terms of partnership for the new subsoil use
project “Zhylyoi.”
China National Offshore Oil Corporation (CNOOC) is one of the
world’s leaders in the oil and gas industry, specializing in
exploration and production. The company actively collaborates with
international partners and participates in large projects in more
than 20 countries.
